Lets keep this simple.
What caused the correction
What is the next path?
We can see here that our symmetrical triangle is coming to an end. When a triangle is forming symmetrically it ususally leads toward a bullish momentum. This is not always the case in BTC/USD due to volume manipulation and volatility.
Looking at the ATR (under MACD indicator) we can see the volatility is low. Hence which causes the correction to be normal and not manipulated
We can expect a strong rejection from the trend support as we can see on the 4H chart, back towards the trend resistance.
Strong Bullish Momentum
If we can close above 10970 we can expect to see the next horizontal resistance towards 11,200.
For safety and less risk trades. We can expect a strong bullish momentum towards 12,000 only if we close a candle above 11,2016.
Get automated notification on when to LONG & SHORT, RSI overload and MACD crossings right to your phone
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What caused the correction
- Rejection off trend support
- Relief in RSI
- Low Volatility
What is the next path?
We can see here that our symmetrical triangle is coming to an end. When a triangle is forming symmetrically it ususally leads toward a bullish momentum. This is not always the case in BTC/USD due to volume manipulation and volatility.
Looking at the ATR (under MACD indicator) we can see the volatility is low. Hence which causes the correction to be normal and not manipulated
We can expect a strong rejection from the trend support as we can see on the 4H chart, back towards the trend resistance.
Strong Bullish Momentum
If we can close above 10970 we can expect to see the next horizontal resistance towards 11,200.
For safety and less risk trades. We can expect a strong bullish momentum towards 12,000 only if we close a candle above 11,2016.
Get automated notification on when to LONG & SHORT, RSI overload and MACD crossings right to your phone
||||||||
vvvvvvvvv